Islet Sciences, Inc. Appoints Steven Delmar as Chief Financial Officer

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May 29, 2014, 07:57 ET

RALEIGH, N.C., May 29, 2014 /PRNewswire/ -- Islet Sciences, Inc. (OTCQB: ISLT), a biopharmaceutical company developing novel technologies for the diagnosis and treatment of metabolic disease, announced today the appointment of Steven Delmar, CPA, as Chief Financial Officer. Mr. Delmar brings more than 35 years of financial and operational executive leadership experience to the company, serving most recently as Director of Business Operations at Computer Sciences Corporation (CSC). Mr. Delmar's appointment was effective May 22, 2014, and he is based in Islet Sciences' North Carolina headquarters.

James Green, Chairman and Chief Executive Officer of Islet Sciences, stated, "As Islet continues to evolve, we look forward to benefiting from Steve's significant experience and track record, particularly his leadership as a public company CFO. We believe Steve will be instrumental in guiding our company as we continue to grow our business and develop our pipeline."

Prior to his role at CSC, Mr. Delmar served as Chief Financial Officer of Integrity Management Consulting, a provider of major systems acquisition and program management support services to government agencies. He also served as Senior Vice President and Chief Financial Officer of ACE*COMM Corporation, a publicly held telecommunications company where he successfully completed multiple acquisitions and facilitated the sale of the company to a private equity investor. Mr. Delmar spent 22 years at Microlog Corporation, a publicly held internet software and services telecommunications company, including 15 years as an executive officer, serving most recently as Chief Financial Officer. While at Microlog, Steve successfully led the initial public offering and secondary offerings as well as multiple acquisitions. He earned a Bachelor of Science in Accounting from Clemson University and is a Certified Public Accountant and member of the AICPA.

About Islet Sciences
Islet Sciences, Inc., a biopharmaceutical company based in Raleigh, NC, is developing new medicines and technologies for the diagnosis and treatment of metabolic disease. On March 13, 2014, the Company announced the execution of a binding letter of intent to acquire BHV Pharma. The combined pipeline includes remogliflozin etabonate for the treatment of type II diabetes and NASH, a cell-based transplantation therapy for insulin-dependent diabetes; first-in-class immune-modulating small molecule IL-12 inhibitors targeting beta-cell preservation, and a PCR based molecular diagnostic measuring beta cell loss for the diagnosis of type 1 diabetes or onset of insulin dependent type 2 diabetes. For more information, please visit http://www.isletsciences.com.

Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements for Islet Sciences, Inc. reflect current expectations, as of the date of this press release, and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward- looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the risks described in the Islet Science, Inc.'s reports filed with the Securities and Exchange Commission. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside of the Company's control.

Contacts:
Tiberend Strategic Advisors, Inc.

Joshua Drumm, Ph.D. (Investors)
[email protected]; (212) 375-2664

Amy Wheeler (Media)
[email protected]; (646) 362-5750

Islet Sciences, Inc.
[email protected]; (919) 480-1518

SOURCE Islet Sciences, Inc.